Turkey: Chocolate Market 2024

Chocolate Market Size in Turkey

The Turkish chocolate market contracted to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, continues to indicate a resilient expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Turkey

In value terms, chocolate production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Chocolate Exports

Exports from Turkey

In 2022, approx. X tons of chocolate and cocoa products were exported from Turkey; with an increase of X% on 2021 figures. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports soared to $X in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Iraq (X tons) was the main destination for chocolate exports from Turkey, accounting for a X% share of total exports. Moreover, chocolate exports to Iraq exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Libya (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Libya (X% per year).

In value terms, Iraq ($X) remains the key foreign market for chocolate and cocoa products exports from Turkey, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with an X% share of total exports. It was followed by Libya, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Libya (X% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Turkey

Chocolate imports into Turkey surged to X tons in 2022, picking up by X% against the previous year. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Poland (X tons) were the main suppliers of chocolate imports to Turkey, together accounting for X% of total imports. Belgium, Switzerland, Luxembourg, Italy, France, India, Austria, Bulgaria and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Turkey, comprising X% of total imports. The second position in the ranking was held by Switzerland ($X), with an X% share of total imports. It was followed by Belgium, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Belgium (X% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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